Try to answer the following questions first before continuing to read:
• Do you have an online business that you just completed making with all the links and key performing properly and have an affiliate program but you need to jump-start it and you just don’t have the cash for promotion?
• Do you want your goods or services in front of thousands of customers within hours without spending a single penny for the offer?
I’m guessing your answer would be a resounding yes, then a Joint venture is right for you if you answered “yes” to either if these questions.
Joint ventures can give you free advertising and also targeted internet traffic.
Before getting eager, you should first know that joint ventures have advantages and disadvantages as it is with everything in life.
How Can Joint Ventures Work For Me?
Firstly, you have to know what a joint venture is, how it works and then we will look into the pros and cons of it.
A joint venture is a collaboration or partnership by two or more companies for mutual gain, usually profit sharing. It’s that simple. You might ask what makes a joint venture very advantageous. Joint ventures allow you to use other people’s web assets, like targeted web traffic and vice versa.
Another is that you can expand your credibility much quicker and faster by joining up with different reputable, branded business.
I recently partnered with big brand The Body Shop to promote their new ranges of skincare and facial products for free. This joint venture worked well for both parties as The Body Shop got free advertising of their products from me and I was able to build up my portfolio of clients which won me 5 new paying clients down the line as a result of having worked with a big brand like The Body Shop.
I will cover in more details on the steps I took to win Body Shops partnership and what I offered the Body Shop in return.
Why Joint Venture Will Always Work
With joint ventures:-
- You can obtain new leads to customers.
- Get discounts on products and services.
- Save money on business management expenses.
- You can have an advantage over your competition.
- Get referrals from other businesses.
- Save lots of time and money on advertising.
- Gain valuable skills and knowledge.
- Safeguard your cash flow.
- Get rid of extra inventory of your products.
- Also, by saving money, you can get out of debts much quicker.
With joint ventures:-
- You can discover hidden income streams.
- Trade unproductive products for money making ones to your partners.
- Increase sales and profits.
- Learn new information from experts for free.
- Increase income by more affiliates wanting you to sign up for their company and you can offer your products at a much lower rate than that of your competitions.
‘This is why joint venture is a great method to jump-start your business, especially if you signed up as an affiliate’.
What Is The Best Joint Venture Partner?
The best joint venture partner would be newsletter owners and website owners that are related to your website product and services. These are the advantages of a joint venture. Now lets look into the disadvantages of joint ventures.
The disadvantages are:-
- Locating newsletter and website owners that are related to your website product or services and getting them to accept your proposal. This can be quite a task for someone who’s new to joint ventures. This is because the internet is a very big place. And finding a newsletter or website owner can be difficult for a beginner.
- This can also be difficult for someone who doesn’t spend much time researching on the internet and only has a small online business on the side part-time if that for making some extra cash.
To find a responsive joint venture partners try to consider these following guides.
- Since finding a joint venture can be difficult, you should do what most people do. Use search engines.
- Type in keywords that is relevant to the products or services you are selling.
- After you have typed in your search, you will get a list of results.
- Click on a link that you think would make a good potential joint venture partner.
- If it doesn’t accept your proposal then move on to the other sites.
- Try to focus your search on the first two pages of the results, if you come up with no results, try using different keywords.
- If you see a potential joint venture partner, contact them by locating their contact information in their website.
- If you don’t find anything on your search results, you can find some potential joint venture partners in forums, newsletter directories, newsgroups and membership sites.
- Write an article about your product and services and post them in article publishing websites,
- include a sentence that you are looking for joint venture partners. This way, a business will seek you out and not the other way around.
- Once you find a business, email them about your joint venture proposal, tell the business owner the benefits of a joint venture with you.
- Explain to the business owner why it would be a win-win situation for both of your businesses.
- Also, people like to be complimented, do this on their business, website, products, articles and others.
How I Won A Joint Venture With The Body Shop
I love the Body Shop and I have used their products for over 10 years now so could say I was a big fan and also I know about their product quality. So I would be very happy and comfortable about promoting their product and working with them.
Step One:- Visited my local Body Shop to make friends with the shop assistance and shop manager.
Step two:- Visited my local Body Shop three more times, each time I made sure I purchase something, which I actually needed for my eldest daughter. On my third visit I asked the store manager if they would be interested in free advertising for some of their products which they were very happy to except.
‘I mean it’s not everyday you get free advertising, especially as big brand like the Body Shop’.
Step three:– Shared with shop manager how I would promote their product, where I would promote their product and time scale of delivery.
Step four:-Started my joint venture relationship and I became Body Shop’s regular feature writer for their new product lines.
This free joint venture won me 5 great contracts with great clients and the chance to use the body shop logo and brand on my website.
The thing about life is that you have to be daring and just go for it. If you don’t ask you will never know and you will never get. Your joint venture could be steering you right in the face so don’t let the prospect of entering new ground and fear stop you from having the potential of building an amazing brand and business.